The Trump Agenda

Executive Summary

The election of Donald J. Trump along with a Congress controlled by his Republican Party gives the incoming president an opportunity to move forward rapidly on several of his campaign pledges, including cutting taxes on individuals and businesses, rolling back the Affordable Care Act and increasing spending on infrastructure projects. The resolution of these issues will be closely watched by U.S. business leaders, along with Trump’s vows to cancel or renegotiate free-trade agreements and adopt more restrictive immigration policies.

Among the key takeaways:

The energy industry is likely to have freer rein to develop oil, gas and coal reserves and environmental restrictions probably will be relaxed.

Military contractors may enjoy a significant increase in defense spending.

The financial industry will be watching closely to see if Trump follows through on rolling back restrictions imposed by the Dodd-Frank Act.

Resources

Bibliography

Books

Galbraith, John Kenneth, “The Great Crash, 1929,” Houghton Mifflin, 1955. An economist’s history and examination of the factors that led to the U.S. stock market crash that precipitated the Great Depression.

Geithner, Timothy, “Stress Test,” Google Books, 2014. The former U.S. Treasury secretary writes of the financial crisis of 2008 that occurred during the worst recession since the Great Depression.

Sorkin, Andrew Ross, “Too Big to Fail,” Viking Press, 2009. A New York Times economic columnist offers a behind-the-scenes account of how the severe 2008 financial crisis developed into a global economic tsunami.

Trump, Donald, and Tony Schwartz, “The Art of the Deal,” Trump Publications, 1987. Donald Trump’s best-selling account of the business philosophies that he has followed and practices that led to his success as a real estate developer.

Articles

“The Long Demise of Glass-Steagall,” PBS Frontline, May 8, 2003, http://tinyurl.com/owk6j. The public television program provides a history of the federal banking regulations enacted following the stock market crash of 1929.

Baker, Dean, “The Trans-Pacific Partnership: Warnings From NAFTA,” Center for Economic and Policy Research, Jan. 20, 2014, http://tinyurl.com/zeurksz. An economist writes about what can be learned about a hemispheric trade treaty as a new Pacific Rim deal was being negotiated.

Cooper, David, “The Case for Raising the Minimum Wage,” U.S. News & World Report, May 10, 2013, http://tinyurl.com/ngprq2p. An expert argues in favor of raising the federal minimum wage.

George, Bill, “Why CEOs Need to Make a Better Case for Free Trade,” Fortune, Sept. 7, 2016, http://tinyurl.com/pldgq3j. A former CEO and current Harvard Business School fellow writes in support of free trade among the U.S. and other nations.

Lane, Sylvan, “Trump: I’d Undo Very Negative Force of Dodd-Frank,” The Hill, May 17, 2016, http://tinyurl.com/hqgb4wh. An account of Donald Trump’s comments that the federal financial regulations enacted after the last recession should be repealed.

Yergin, Daniel, “Congratulations, America. You’re (Almost) Energy Independent,” Politico Magazine, November 2013, http://tinyurl.com/hrcrem4. The energy industry expert outlines U.S. efforts to achieve independence from other nations in the production of energy.

Reports and Studies

“2013 Report Card for America’s Infrastructure,” American Society of Civil Engineers, http://tinyurl.com/yhskxo8. The association reports on the cost of repairing bridges, roads and other infrastructures in need of modernization.

“Historical Tables,” Office of Management and Budget, The White House, http://tinyurl.com/ntnzkb5. The White House provides an official accounting of the history of federal spending, deficits, debt and other data.

“International Trade in Goods and Services,” U.S. Bureau of Economic Analysis, Nov. 4, 2016, http://tinyurl.com/yq8ubl. The government provides an official report on the value of U.S. imports and exports.

“Our Changing Climate: 2014 National Climate Assessment,” U.S. Global Change Research Program, http://tinyurl.com/jhtwuyd. A government program reports on the impact of climate change and solutions for stemming further warming.

“Positions,” Donald J. Trump for President, Inc., http://tinyurl.com/od6u7xy. The Trump campaign outlines the positions the candidate has taken in his campaign for president.

“The Trans-Pacific Partnership,” Office of the United States Trade Representative, http://tinyurl.com/payo6bs. The trade agency explains the deal that the U.S. has been negotiating with 11 other Pacific Rim nations.

Krogstad, Jens Manuel, Jeffrey S. Passel and D’Vera Cohn, “5 facts about illegal immigration in the U.S.,” Pew Research Center, Nov. 3, 2016, http://tinyurl.com/hkqethg. An independent research center reports on undocumented immigration in the United States.

Maues, Julia, “Banking Act of 1933, commonly called Glass-Steagall,” U.S. Federal Reserve, Nov. 22, 2013, http://tinyurl.com/kqatywx. The Federal Reserve provides a history of federal banking regulation in the aftermath of the stock market crash of 1929.

Daly, Matthew, “New Congress: Minorities Gain but Still Overwhelmingly White,” The Associated Press, ABC News, Nov. 14, 2016, http://tinyurl.com/z3dq6xp. The 115th Congress will have a record number of minority women, including Democrats Kamala Harris of California and Tammy Duckworth of Illinois in the Senate and Stephanie Murphy of Florida in the House of Representatives.

Morgan, David, “Election over, Congress pivots to lame-duck debate over spending,” Reuters, Nov. 14, 2016, http://tinyurl.com/zrf9oeg. Lawmakers reconvening for the “lame-duck” session have to approve a new funding resolution before the current one expires in December.

Economic Plans

“Trump’s economic plan has caused a massive divergence in the market,” Business Insider, Nov. 15, 2016, http://tinyurl.com/hkbfbxh. The divergence between rising equity values and falling bond prices can be attributed to different markets focusing on different aspects of President-elect Donald J. Trump’s economic policy, experts say.

Abboud, Leila, and Brooke Sutherland, “Trump and Taxes,” Bloomberg, Nov. 9, 2016, http://tinyurl.com/zgkan8s. Donald J. Trump’s proposed tax plans involve reducing the corporate tax rate to 15 percent from the current 35 percent and giving companies a onetime 10 percent tax offer to bring all company interests back to the United States.

Immigration Agenda

Carcamo, Cindy, Kate Mather and Dakota Smith, “Trump’s crackdown on illegal immigration leaves a lot unanswered for sanctuary cities like L.A.,” Los Angeles Times, Nov. 15, 2016, http://tinyurl.com/hl4loaq. Cities across the United States that offer legal “sanctuary” for undocumented immigrants face uncertain futures in the wake of the presidential election.

Otarola, Miguel, and Mila Koumpilova, “‘Constant fear’ as Latino immigrants brace for life under Trump,” Star Tribune, Nov. 14, 2016, http://tinyurl.com/hy4pn5g. President-elect Donald J. Trump’s vows to deport millions of immigrants and crack down on illegal immigration have sparked both fear and support in Minnesota communities.

Trump Appointees

Holland, Steve, and Luciana Lopez, “Trump packs transition team with loyalists and family,” Reuters, Nov. 12, 2016, http://tinyurl.com/hrox36e. The president-elect’s transition team, led by Vice President-elect Mike Pence, is comprised of those advisers and politicians who remained loyal to the candidate throughout the presidential campaign.

Paletta, Damian, “Rudy Giuliani Says Defeating ISIS to Be Early Focus of Donald Trump’s Foreign Policy,” The Wall Street Journal, Nov. 14, 2016, http://tinyurl.com/j5cs7c8. Former New York City Mayor and Trump surrogate Rudy Giuliani suggested during an appearance that he would be interested in the position of secretary of State in the president-elect’s Cabinet.

Shear, Michael D., Maggie Haberman and Michael S. Schmidt, “Critics See Stephen Bannon, Trump’s Pick for Strategist, as Voice of Racism,” The New York Times, Nov. 14, 2016, http://tinyurl.com/h455vtw. President-elect Donald J. Trump’s appointment of Steve Bannon, former chief executive of the “alt-right” website Breitbart, as a chief strategist has drawn criticism over accusations of racism, nationalism and anti-Semitism.

Pew Research Center1615 L St., N.W., Washington, DC 20036 202-419-4300 www.people-press.org A nonpartisan group that researches public policy, with a specialty in immigration and media; also conducts independent public polling.

Republican National Committee310 First St., S.E., Washington, DC 20003 202-863-8500 www.gop.com The national organization of the Republican Party.